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What is the difference between supply schedule and market schedule?
A table which contains values for the price of a good and the quantity that would be supplied at that price. A market demand schedule is a table that lists the quantity of a good all consumers in a market will buy at every different price.
When economists use market values to aggregate output they sum the what?
price times the quantity of each item produced
How can excel change values affect business decisions?
Excel allows you to change values in a worksheet quickly and easily. How is this helpful in running a business? How can changing values affect business decisions?
How is the equilibrium price related to the equilibrium quantity and how can these values be determined?
Demand: 300x+1500 Supply: 20x-q+1200?
How does the nominal and real values of things affect the aggregate behavior of a society?
In economics, the nominal values of something are its money values in different years
What am I a quantity that can change or vary taking on different values?
You're a variable.
What is a quantity that can have different values?
A variable.
Why are variables used in expressions?
They take the place of an unknown quantity. They can change values, thus they are called variables, their quantity varies.
What is a unknown or change quantity?
An unknown or changing quantity is a variable in a mathematical equation or problem that is not fixed but can take different values. It is typically represented by a letter, such as x or y, and its value needs to be determined in order to solve the problem.
What is a ratio of equivalent values used to express the same quantity in different?
treu
What is a ratio of equivalent values used to express the same quantity in different units?
treu
What is a changeable quantity called?
A changeable quantity is called a variable. Variables can take different values and are typically represented by letters in mathematical equations.
A quantity that can be equal to any integer and can take any different integer values is known as?
Integer variables
Amount of change of one measurment in a given amount of time?
The rate of change is a measure of how one quantity changes over time. It is calculated by finding the difference in the quantity values divided by the difference in time. If the quantity is increasing, the rate of change is positive, while if it is decreasing, the rate of change is negative.
What is the formula for PED?
The formula for Price Elasticity of Demand (PED) is the percentage change in quantity demanded divided by the percentage change in price. It is calculated as (Q2 - Q1) / ((Q1 + Q2) / 2) / (P2 - P1) / ((P1 + P2) / 2), where Q1 and Q2 are quantity demanded values and P1 and P2 are price values.
What does this definition mean A ratio of equivalent values used to express the same quantity in different units?
It could be the definition of equivalent ratios.
What does it mean to say that a physical quantity is quantized or conserved?
To say that a physical quantity is quantized means that it can only take on discrete values or multiples of a fundamental unit. Conservation of a physical quantity means that the total amount of that quantity remains constant over time in a closed system, even if it may change forms.
